okay, but this will take a few steps...
You may wish to record an action for this but you don't need to.

1. Write the text in a colour (not black)
<start record action>
2. duplicate layer, and move the new layer undernieth current layer
3. move the layer with the arrow keys exactly 1 pixel down and one pixel right
4. adjust the brightness of the new layer by a small fraction and make it a little darker
<stop record action>
5. repeat steps 2 - 4 until the bevel is big enough
6. merge all of the text layers
7. select filter/render/lighting effects
8. create a light that passes over the whole of the text (from one side to the other)
9. set the texture channel to be the closest colour to your text, select white is high and move the slider to mountainous.
10. press ok !
done... if you need diagrams i can email the steps...

An alternate option would be to install a plug-in like Extensis Cool Text or Eye Candy. These will offer you a series of preset options or you can create your own parameters for colour, borders, bevels and many other thingies to do with your text.

Plug-ins are quite affordable and also great investments and time-savers.

EEEP eyecandy!...You could also use Illustrator or Adobe Dimensions and extrude the text. Illustrator needs a KPT plugin to do it but dimensions is cheap and does all sorts of neato 3D things. Itll let you twist text in all sorts of bizarre directions. And the best part is that its vector..=)

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